Malta is a small island nation located in the Mediterranean Sea, south of Italy, and is a member of the Commonwealth of Nations, United Nations, European Union, and Eurozone. The country has a Mediterranean climate and a rich history, making it a popular destination for tourists and expats looking to reside in Europe. To enhance the economy, in 2015, the Malta Permanent Residency Program was launched.
The Malta Permanent Residency Program is a government-approved program that allows non-EU citizens to obtain a residency card in Malta by investing in the country. Because of its reputation for stability, predictability, and safety, Malta has risen to become one of Europe’s leading investment destinations.
About Malta Permanent Residency Program
The Malta Permanent Residence Program (MPRP) was founded in 2015, enabling individuals to gain permanent residency status in Malta. Investors can seek residency in Malta and benefit from many advantages available to residents through the MPRP. The program was created with the goal of highlighting Malta’s safety, security, first-rate healthcare and educational systems, as well as excellent quality of life.
Benefits of Permanent Residence in Malta
Throughout the years, Malta’s economic stability and political alignment on socioeconomic issues have attracted a wide range of foreign investors looking for a secure, yet competitive, jurisdiction in which to invest and initiate business.
With the Malta PR you can enjoy many benefits such as:
- Visa-free travel to all Schengen States
- Obtaining the right to live, settle, work, and study in Malta
- Maintaining your residency permit without the need to relocate to Malta
- Access to world-class medical facilities and hospitals
- Provide your children with outstanding education
- After five years in Malta, you can apply for a European long-term residence permit
- No language requirements, and no education or management experience is required
- The ability to include up to four generations of family members
Malta PR Requirements
- You must be over the age of 18 and a non-EU citizen
- Comply with the investment requirements
- Hold the property investment for at least five years
- Have no criminal record
- Purchase international health insurance
- Be in good health and have a respectable reputation
- Show proof of the source of funds used for the application
- Have adequate financial resources to support themselves
- Provide proof of at least EUR 500,000 in assets, with at least EUR 150,000 in financial asset
Permanent Residency in Malta by Investment Schemes
The Malta Permanent Residency program necessitates the following investments:
- A non-refundable one-time cash contribution of EUR 98,000 if renting, or EUR 68,000 if purchasing.
- A EUR 2,000 donation to a charitable organization is required.
- Buying a property for at least EUR 300,000 in the south of Malta in Gozo or EUR 350,000 in the rest of Malta or renting a property for at least EUR 10,000 per year for five years.
Malta PR Process
Bluemina Citizenship & Residency does a preliminary check, and a scanned passport copy is sent to the lawyer team in Malta for preapproval. The file preparation begins, and the required documents are collected by the processing team. Advisory fees, primary government contribution, and application fees are paid at this stage.
A due diligence process will be made and the decision to grant permanent residency card for the main applicant and family is approved.
“Approval in Principle” letter is issued by the Maltese Government.
- Once all documents are submitted to the government, a “Letter of Invitation” will be issued to the main application and dependents.
- The applicant will visit Malta to purchase or lease a property according to the investment route. At this stage, applicant will also purchase health insurance.
- The investor and the family submit biometrics and photos. Residence certificates and cards are issued at this point.
FAQs About Malta Permanent Residency Program
- Is it necessary for parents or grandparents to be of a certain age?
No, there is no age limit when applying for Malta PR.
- Does the Malta Permanent Residency need to be renewed?
The residence certificate issued under the MPRP is valid for life, provided that all program obligations are met. The residency card is valid for five years and must be renewed every five years.
- Will the holder of the Malta PR be able to travel throughout Europe without a visa, or only in Schengen countries?
Holders of the MPRP residence card may travel to all Schengen countries without a visa for a maximum of 90 days within a 180-day period. The traveler must always carry a valid travel document and a residence card, and he or she is also required to obtain health insurance that covers his or her travel plans.
- Is the EUR 500,000 capital requirement only valid for the first five years?
For the first five years, the beneficiary is only required to maintain the EUR 500,000 capital with EUR 150,00 in financial assets.
- Do I have to invest in a Malta company and create jobs in order to be eligible for the program?
No, the Malta PR is not the same as the EB-5 Investor Visa in the United States of America. There are no requirements in Malta to invest in a business or create new jobs.
- Can I add dependents after I get my Maltese residency?
You certainly can. You must submit a separate application pack containing all required documents.
- Will my Children’s Malta Residence status end when they turn 18?
No, as long as they meet the eligibility requirements.
- Can I declare my cryptocurrency assets as financial assets when applying for the Malta Permanent Residence Program?
No, liquid assets such as stocks, bonds, funds, and bank deposits are required.
- Can I apply for the Maltese Citizenship after receiving my Malta PR?
While attaining Malta residence is an excellent way for non-EU investors to get a European Residence Permit, obtaining a second passport in Malta is only possible through the Citizenship by Investment in Malta regulations. If you want full Maltese citizenship, investor should look into Malta dual citizenship program, which is often considered one of the most reputable and leading second citizenship by investment programs in the world.
Obtain Your Malta Permanent Residency with Bluemina
Obtaining permanent residency through the Malta PR program or a powerful second passport through one of the leading Citizenship by Investment programs can only be done with the help of an authorized agent like Bluemina. Contact us now our visit one of our regional offices to book your legal and free consultation.